Press Releases - BFF Banking Group
News & Media
The Board of Directors of Banca Farmafactoring S.p.A. (“BFF”), during today’s meeting chaired by Salvatore Messina, approved the draft financial statements of the Parent Company and the consolidated financial statements for the fiscal year ended on December 31st, 2018, confirming the results already disclosed to the market with the press release published on February 8th, 2019 following the approval of FY2018 consolidated accounts (unaudited) by the Board of Directors.
BFF Banking Group (“BFF Group”) reported a FY18 consolidated Net Income of €92.2m, compared to €95.5m in 2017, with the latter including €11.8m of net positive extraordinary items and a high cash collection of late payment interests (LPIs). Consolidated Adjusted Net Income in 2018, calculated excluding extraordinary items, is equal to €91.8m, up by 10% compared to FY17 Adjusted Net Income equal to €83.7m.
The Parent Company BFF reported a FY18 Net Income of €73.4m, down by 8% compared to FY17.
During the meeting held today, BFF’s Board of Directors also approved the proposal for the net income allocation and the reserves distribution, in line with the resolution of the Board of Directors held on February 8th, 2019, for a total cash dividend of €91.8m, equivalent to €0.539 per share.
Finally, the Board of Directors resolved to call the Shareholders’ Meeting, both Ordinary and Extraordinary, in a single session on March 28th, 2019.
The financial statements as of December 31st, 2018 and the cash dividend distribution equal to €0.539 per ordinary share, before taxes, will be submitted for the approval of the Ordinary Shareholders’ Meeting; the cash dividend payment, if approved by the Shareholders’ Meeting, will take place starting from April 3rd, 2019, with ex-dividend date on April 1st (coupon n° 2) and record date on April 2nd.
The notice of call of Shareholders’ Meeting and the documentation relative to the various agenda’s items will be published according to methods and terms provided by the current legislation.
Statement of the manager responsible for preparing the Company’s financial reports
The manager responsible for preparing the Company’s financial reports, Carlo Zanni, declares, according to paragraph 2, Article 154bis, of Testo Unico della Finanza (Consolidated Law on Finance), that the accounting information contained in this press release corresponds to the document results, books and accounting records of the Company.